Shock News : Obama Lied About The Debt

#AceDebtNews – the US has lied about their debt since 2008, when they were so desperate they climbed into bed with the Chinese ,who duly bailed them out! They then duly missed a quarterly payment, but the Chinese gave them one chance, this down-grade is a warning, not to get so close to the wire and not have money to pay them next quarter! #debt #lies

Real Science

It turns out that increasing the debt is the problem, not the solution.

A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington’s resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained “unchanged”.

Dagong lowered its ratings for US local and foreign currency credit from A to A-, maintaining a negative outlook, the agency said in a statement.

The announcement came after the US Congress passed and President Barack Obama signed a bill that extends the nation’s borrowing authority and ends a two-week government shutdown.

“The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged,” Dagong said in the statement, adding Washington’s solvency was vulnerable as old debts were still repaid through raising new debts.

Chinese agency downgrades US credit rating – FRANCE 24

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